Vice President Jejomar Binay, concurrently chairman of the Housing and Urban Development Coordinating Council and vice chairman of the HGC board, presided over the deliberations.

HGC president Manuel Sanchez said the latest batch of approved guaranty lines attested to the company’s thrust to expand its guaranty business and cover more housing loans in more places nationwide.

HGC so far has approved a total of P38.84-billion guaranty line applications this year. Sanchez said this was proof of the confidence of banks and other housing financing institutions on the HGC guaranty.

HGC, a key shelter agency under the Housing and Urban Development Coordinating Council, is mandated to provide risk guaranties and fiscal incentives for housing credits extended by financing institutions. HGC carries the unconditional guaranty of the Republic of the Philippines.